MS HB1122

Requires the State Department of Education to include in its uniform accounting system a method for tracking all local, state, and federal funds received, handled, and disbursed by school districts.

Changes the State Department of Audit's authority from discretionary ("authorized and empowered") to mandatory ("shall") to post-audit and investigate financial affairs of each school district in the state.

Expands the scope of required audits to cover local, state, and federally appropriated school funds, including adequate education program funds and supplementary district school funds.

Authorizes the Office of the State Auditor to provide implementation advice to the Mississippi Department of Education upon request.

Takes effect July 1, 2013.